We have had the first of the two manufacturing PMIs already from Australia earlier today:
And still to come from Australia, a big data day indeed, likely to see some currency impact:
- Australian retail sales data due today - preview of the July data
- Big Aussie economic data day coming up - preview of Q2 inventories
Back to this CBA result, the bank on the 'key findings' this month 9bolding mine):
- Australia's goods-producing economy continued to expand in August, but the pace of improvement was weak by historical standards. Although growth rates for both output and new orders quickened, they were softer than their respective long-run averages.
- Employment similarly rose at a relatively slow pace.
- Weakness in the domestic currency contributed to marked export growth, but also pushed up prices for imported materials
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On this comment from CBA:
- Weakness in the domestic currency contributed to marked export growth, but also pushed up prices for imported materials
Yes on both counts. File that away under 'education' if it is new to you
